How to buy ILV coins on mobile phone

Through reputable cryptocurrency exchanges like Binance and Coinbase, you can easily acquire ILV coins on your mobile device by following a simple 8-step process, including account creation, funding, trading, and secure storage.

Nov 25, 2024 at 08:16 am

How to Buy ILV Coins on Mobile Phone

Immutable X (ILV) is a decentralized Layer-2 scaling solution for NFTs on the Ethereum blockchain. It enables users to mint and trade NFTs with near-zero gas fees and instant transaction finality. This guide will provide a step-by-step process on how to buy ILV coins on your mobile phone.

Prerequisites:

• A mobile phone with internet access
• A cryptocurrency exchange account that supports ILV trading

Steps:

1. Choose a Cryptocurrency Exchange

Multiple cryptocurrency exchanges offer ILV trading, including Binance, KuCoin, Crypto.com, and Coinbase. Choose an exchange that is reputable, supports ILV trading in your region, and offers a user-friendly mobile app.

2. Create an Account on the Exchange

Once you have selected an exchange, create an account by providing your personal information, email address, and phone number. You may need to complete KYC (Know Your Customer) verification by submitting government-issued identification documents.

3. Deposit Funds into Your Account

To purchase ILV coins, you need to deposit funds into your exchange account. Most exchanges support fiat currency deposits using bank transfers, credit cards, or debit cards. Alternatively, you can transfer cryptocurrencies from another wallet or exchange.

4. Find the ILV Trading Pair

Once your account is funded, navigate to the exchange's trading page and search for the ILV trading pair. The most common pair is ILV/USDT, which means you will be buying ILV with Tether (USDT).

5. Place a Buy Order

In the trading interface, enter the amount of ILV coins you wish to purchase. You can choose between market orders for instant execution at the current market price or limit orders for execution at a specific price. Set the order type, price, and amount accordingly.

6. Review and Confirm the Order

Carefully review the order details, including the amount, price, and fees. Once you are satisfied, confirm the order to initiate the purchase.

7. Track Your Order

Once the order is placed, it will be sent to the exchange's order book. You can track the status of your order in the exchange's "Orders" or "History" section.

8. Store Your ILV Coins

After the order is executed, your ILV coins will be credited to your exchange wallet. You can leave your coins on the exchange or withdraw them to a hardware wallet or software wallet for secure storage.

Additional Tips:

• Consider setting up a limit order to avoid slippage, especially during periods of high volatility.
• Research the exchange's security features and check reviews from other users before depositing funds.
• Be aware of the transaction fees associated with buying and withdrawing ILV coins.
• Store your ILV coins in a reputable and secure wallet.